Robohub.org
 

Samsung launch accelerator and $1.1 billion in funds

by
05 February 2013



share this:

SamsungLaunch
Samsung today offered hope to robot startups with the launch of its new Catalyst Fund, a $100 million commitment to the development of components, subsystems and disruptive technology. This is almost overshadowed by the simultaneous launch of their $1 billion Venture Americas Fund and the new Samsung Strategy and Innovation Center (SSIC), the Innovation Fellows program and the Samsung Create Challenge for entrepreneurs.

Samsung Electronics president, Young Sohn, explained that these diverse strategies represented Samsung’s commitment to looking further ahead than 3-5 years, to commercializing innovative research and connecting with entrepreneurs at every level. Samsung is also proud of their proven ability to invest in hardware and components, in part because they control their own supply chain.

Through their Innovation Fellows and partnerships with research groups, Samsung hope to focus on disruptive platforms; the Internet of Everything; Mobile Health; Computer Human Interface; Cloud and Data Center Architecture; and Mobile Privacy. They’d also like to hear from you if you are building something that will play nicely with their new ultra thin flexible display.

Because Samsung is focussing on disruptive technology, its new Innovation Center will be headquartered at Sand Hill Road in Silicon Valley, and will be led by Samsung Electronics president and chief strategy officer Young Sohn. “Being in Silicon Valley is critical because this is the epicenter of disruptive innovation,” Sohn said.

“By 2020, Sohn said, Samsung expects there to be 120 billion connected devices around the world. And the company wants to connect all of those devices, hopefully capturing an ever-larger portion of the electronics market in the process. Samsung hopes to double its revenue between now and 2020 and grow to a $400 billion company by that time. With the growing number of devices, Samsung sees the need for new technologies around cloud infrastructure, mobile privacy, Internet of Things, and other related topics.” [http://techcrunch.com/2013/02/04/samsung-strategy-and-innovation-center/]

Samsung’s Venture Americas Fund has already invested $160 million in 2012 in 20 deals, and over the years has seen more than 60 exits, with 47 IPOs and 16 acquisitions. The fund increase to $1 billion shows a strong commitment to hardware and component companies. Alongside the Ventures Fund, the Innovation Fellows and the Catalyst Seed Fund, Samsung are launching an entrepreneur challenge later this year. Aimed at identifying and nurturing artists and engineers, with $10 million in seed funding and access to Samsung’s R&D, Innovation Fellows and SSIC, the SamsungCreate Challenge is a must.
SamsungChallenge
This post was originally published at Robot Launchpad



tags: , , , , ,


Andra Keay is the Managing Director of Silicon Valley Robotics, founder of Women in Robotics and is a mentor, investor and advisor to startups, accelerators and think tanks, with a strong interest in commercializing socially positive robotics and AI.
Andra Keay is the Managing Director of Silicon Valley Robotics, founder of Women in Robotics and is a mentor, investor and advisor to startups, accelerators and think tanks, with a strong interest in commercializing socially positive robotics and AI.





Related posts :



Engineers devise a modular system to produce efficient, scalable aquabots

The system’s simple repeating elements can assemble into swimming forms ranging from eel-like to wing-shaped.
07 February 2023, by

Microelectronics give researchers a remote control for biological robots

First, they walked. Then, they saw the light. Now, miniature biological robots have gained a new trick: remote control.
05 February 2023, by

Robot Talk Episode 35 – Interview with Emily S. Cross

In this week's episode of the Robot Talk podcast, host Claire Asher chatted to Professor Emily S. Cross from the University of Glasgow and Western Sydney University all about neuroscience, social learning, and human-robot interaction.
03 February 2023, by

Sea creatures inspire marine robots which can operate in extra-terrestrial oceans

Scientists at the University of Bristol have drawn on the design and life of a mysterious zooplankton to develop underwater robots.
02 February 2023, by

Our future could be full of undying, self-repairing robots – here’s how

Could it be that future AI systems will need robotic “bodies” to interact with the world? If so, will nightmarish ideas like the self-repairing, shape-shifting T-1000 robot from the Terminator 2 movie come to fruition? And could a robot be created that could “live” forever?
01 February 2023, by

Sensing with purpose

Fadel Adib uses wireless technologies to sense the world in new ways, taking aim at sweeping problems such as food insecurity, climate change, and access to health care.
29 January 2023, by





©2021 - ROBOTS Association


 












©2021 - ROBOTS Association